Expensify (NASDAQ:EXFY) Announces Earnings Results

Expensify (NASDAQ:EXFY - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.12), Zacks reports. The business had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.03 million. Expensify had a negative return on equity of 14.72% and a negative net margin of 11.81%.

Expensify Price Performance

Shares of EXFY traded down $0.30 on Monday, reaching $3.58. 1,012,083 shares of the stock traded hands, compared to its average volume of 414,003. The firm has a market cap of $276.22 million, a price-to-earnings ratio of -19.89 and a beta of 1.87. Expensify has a 12 month low of $1.24 and a 12 month high of $4.13. The stock's 50-day moving average price is $3.52 and its 200-day moving average price is $2.86.

Analyst Upgrades and Downgrades

Several research analysts have commented on EXFY shares. Citigroup lifted their price target on Expensify from $4.00 to $5.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. JMP Securities downgraded Expensify from an "outperform" rating to a "market perform" rating in a research report on Monday, November 25th. Finally, Lake Street Capital lifted their price target on Expensify from $3.00 to $5.00 and gave the stock a "buy" rating in a research report on Friday.

Remove Ads

Expensify announced that its board has initiated a share repurchase plan on Thursday, February 27th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 20.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Insider Activity

In other Expensify news, Director Timothy L. Christen sold 18,273 shares of the company's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $3.59, for a total value of $65,600.07. Following the sale, the director now directly owns 194,983 shares in the company, valued at $699,988.97. This represents a 8.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Michael Barrett sold 45,643 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $3.68, for a total value of $167,966.24. Following the completion of the sale, the chief executive officer now owns 2,026,590 shares in the company, valued at $7,457,851.20. This trade represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,090 shares of company stock worth $981,364. Company insiders own 17.33% of the company's stock.

Expensify Company Profile

Expensify, Inc provides a cloud-based expense management software platform to individuals and corporations, small and midsized businesses, and enterprises in the United States and internationally. The company's platform enables users to manage corporate cards, pay bills, generate invoices, collect payments, and book travel.